How the WTS hides its cash.....you may find this interesting

by God_Delusion 62 Replies latest watchtower scandals

• 

  JWoods

  Ziddina, my point was that by hiding behind the facade of a "religious-educational organization" they DONT HAVE TO resort to tricky illegal money transfers - they are already tax free and just collecting contributions. In reality, of course, they are simply a for-profit publishing company which is heavily invested in prime real estate.

  Remember - this is why they made the blunder of taking the literature to a voluntary contribution basis - to avoid sales tax.

  Also remember - by their religious doctrine, they are the almighty GB - and do not owe their followers any financial explanations.

  Whether or not they have hidden overseas trusts is, in that anti-tax anti-disclosure sense, really a moot point.
• 

  ziddina

  JWoods... Whoopsies! I read Sasquatch's post and then yours; some of the meanings of his/hers blurred into yours in my mind...

  MadSweeney, I very much doubt that a group of men who 'vote' on policy instead of checking the bible, who allowed the Malawians to suffer while allowing the Mexican brothers to simply bribe government officials to claim they'd SERVED in the army, who have the flagrant hypocrisy to print that article in the July 2009 Awake and then continue to reinforce the practice of 'shunning', would remain naive about where the money is going in the 'cash cow'...

  Zid
• 

  Midget-Sasquatch

  Here in Canada, charities like the WTS have to declare all their income and expenses, including giving a statement of cash flow. Its blatant how alot of the after expenses money contributed to the Canadian branches gets sent to other branches (primarily the US).

  Couldn't one check if the American WTS has to do the same thing? If they are using trusts etc., it could give solid leads.
• 

  rebel8

  I don't doubt you're good at your job, and we already know the borg is unethical on many levels.

  What you're explaining seems to be just an idea though, since there is no evidence for it at this time.

  No need to launder money when it's perfectly legal for them to "live the high life" or what have you, on donated funds.

  I am hoping no one reads this and assumes it's fact.
• 

  zarco

  God Delusion - I enjoyed reading this thread and it is very possible that the WTS currently uses these tactics. However, I can state with reasonable certainty that they did not use off-shore trusts to to hide cash flows up until a few years ago. I also doubt that they use off-shore trusts now, mostly due to counterparty risk, but I don't know for sure. They do have decent advisors with creative ideas, so surely that have considered these arrangements.

  zarco
• 

  lingno2

  when was the HQ sold? is there WT publication that confirm? in our locality it is a end tounge to folks. i just ask if theres any pub. to show them
• 

  designs

  Trusts, and Nonprofit Foundations are used by most Religions and families with wealth to preseve and grow funds without taxes and in some cases capital gains.

  The Society with their 1 Billion in annual revenue is a small potato compared to the Proteatants, Orthodox, and Catholics. The Baptist Convention takes in 15 Billion annually.

  The Society is a bit of a grim reaper if they know you have left them money in your Will or Trust. The widow of author Erle Stanley Gardner had left the Society a large portion of her husband's Estate. Brothers on the Society's Finance committee would call the brother of the widow, both Witnesses and the brother was the Trustee of the Estate, and ask about her failing health and if funds could be transfered ahead...ahem....of the final event.

  Lovely......
• 

  lingno2

  so imformative...am so naive about all things. its like am empowered with this site.....wel my request anyone?
• 

  metatron

  First, the Society has probably engaged in illegal currency transactions relative to some restrictive lands where they operate.

  Second, there have been rumors about secret bank accounts set up to provide easy access to cash - reasons unknown. I strongly suspect that they are forced to pay bribes in some places and need to conceal the origins.

  Finally, I doubt that they have huge amounts in any offshore accounts because of the risk involved. Keep in mind that these 'banks' or whatever are NOT Citibank or HSBC or JP Morgan. They can quietly screw you and exactly who do you go to to get your money back? So, unless they are fools in regard to money (I doubt that!), I think such accounts are limited.

  Charity laws and the First Amendment pretty much give them as much protection as they need.

  metatron
• 

  lingno2

  alot of info thanks......has annyone knows my request? please!